Texas is CNBC’s top state for business in 2010

Texas has come out at CNBC’s top state for business in 2010 — despite less than steller marks for the cost doing business in the state and the amount of money the state puts into education.

CNBC reported that Texas won the competition over chief rival Virginia mostly on the basis of having the strongest economy in the nation, as well as a healthy transportation and infrastructure system. The state ranked seventh for the availability of capital and eighth on the cost of living.

But the state ranked 30th for the cost of doing business, mostly because of high electric rates, CNBC reported, and Texas also ranked 30th for the level of his spending on public education. For quality of life, the state ranked 29th. And when it came to worker education, training and availability, Texas ranked 16th.

Gov. Rick Perry ignored the down sides during his CNBC appearance to promote the positive aspects of being rated No. 1.

“It’s the compilation of four really simple principles: Don’t spend all the money. Have a Legislature that understands that the private sector is where the jobs are created. Government doesn’t create any jobs. We create an environment where private sector types can. Have a regulatory climate that is fair and predictable. A legal system that does not allow for over-suing. And have an accountable public school system that says to those that want to expand or come to your state that there’s a skilled work force here.”